3/3. This is why BTCs price holds up so well during bear markets.
I call this a ponzi or pyramid scheme. BTC is not money, so what is it?
If BCH takes over BTCs role for leveraged altcoin trading, BTCs value will collapse and be absorbed by BCH.
Consider like this. Leverage on the way up -> take profits in BTC at the top -> altcoins drop harder to unwind massive moves -> value deposits into BTC -> then fiat.
BTC is still money but doesn't work well as cash. But huge volumes of BTC are available on exchanges for traders to borrow to leverage with. I think this gives BTC its value
